MarketReport Market report for the Palo Alto Bay area August 2022. Copyright by KW Advisors 2022
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What’syourhome reallyworthin today’smarket? That’s really the question you should be asking Ouryourself.market is incredibly diverse and changes rapidly. Values vary not just by neighborhood, but by street. Your home isn't necessarily worth what your neighbors is. At the end of the day, the current market sets the value of your home. So, do you know what your home is worth in today's market? Icanhelp... Contact me for a confidential, no obligation, assessment of your home's value.
IfYou’reSelling YourHouseThis Summer,Hiringa ProIsCritical
AUGUST 2022 It can be tempting, especially with how hot the housing market has been over the past two years, to consider selling your home on your own. But today’s market is at a turning point, making it more essential than ever to work with a real estate professional. Not only will a trusted real estate advisor keep you updated and help you make the best decisions based on current market trends, but they’re also experts in managing the many aspects of selling your house. Here are five key reasons why working with a real estate professional makes sense today.
PaloAlto
In Palo Alto, the median sold price for single-family homes in July decreased month-over-month to $3.2 million. The number of homes sold decreased to 25, and the number of new listings also decreased to 92. The number of condo & townhomes sales increased slightly to $1.7 million monthover-month with 13 units sold and 42 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 months’ supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices. What's in the Palo Alto data?
92 New Listings 1.6 Months of Inventory $3.2M Median Sale Price 96% Median Sale vs List 20 25 Sold Listings SFH Single Family Homes Avg Days on Market The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from July 2021 to July 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently owned and operated.
42 New Listings 5.4 Months of Inventory $1.7M Median Sale Price 98.6% Median Sale vs List 26 Avg Days on Market 13 Sold Listings CONDO Condo & Townhomes
July2022 July2022 y y
July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022 75 50 25 0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022 125% 100% 75% 50% 25% 0% Median SalesPrice Condos & Townhomes The median sales price has increased from $1 5m last July 2021 to $1 7m by July 2022 Single Family Homes The median sales price has decreased from $3 4m last year's July to $3 2m this year AVGDays OntheMarket Condos & Townhomes The average days on market has gone down from last year's July with 35 days, to 26 days this year Single Family Homes The average days on market has decreased from 21 days of the same month last year, to 20 days this year. Overbids Condos & Townhomes The overbid percentage decreased from 100 5% of July 2021, to 98 6% a year later Single Family Homes The overbid percentage has decreased from 103.4% last year's July, to 96.6% this year.
In Redwood City, the median sold price for single-family homes in July decreased month-over-month to $2 million. The number of homes sold decreased to 49 and the number of new listings also decreased to 104. The number of condo & townhomes sales decreased month-overmonth to $825,000 with 8 units sold and 33 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 months’ supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices. City
Redwood
What's in the Redwood City data?
104 New Listings 1.7 Months of Inventory $2M Median Sale Price 101.4% Median Sale vs List 28 49 Sold Listings SFH Single Family Homes The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from July 2021 to July 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently owned and operated. Avg Days on Market
33 New Listings 1.7 Months of Inventory $825K Median Sale Price 97.2% Median Sale vs List 46 Avg Days on Market 8 Sold Listings CONDO Condo & Townhomes
July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 200 150 100 50 0 July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 60 40 20 0 RedwoodCity JULY 2021 - JULY 2022 LISTINGS FOR SALE VS SOLD LISTINGS Single Family Homes Last 12 months, year over year. Condos & Townhomes Last 12 months, year over year
July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 $3,000,000 $2,000,000 $1,000,000 $0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022 50 40 30 20 10 0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022 125% 100% 75% 50% 25% 0% Median SalesPrice Condos & Townhomes The median sales price has decreased from $1 4m last July 2021 to $825k by July 2022. Single Family Homes The median sales price slightly decreased from $2 1m last year's July to $2m this year AVGDays OntheMarket Condos & Townhomes The average days on market has gone up from last year's July with 27 days, to 46 days this year Single Family Homes The average days on market has increased from 14 days of the same month last year, to 28 days this year. Overbids Condos & Townhomes The overbid percentage steadily decreased from 105 8% of July 2021, to 97 2% a year later Single Family Homes The overbid percentage slightly decreased from 105.1% last year's July, to 101.4% this year.
What's in the Portola Valley data? In Portola Valley, the median sold price for single-family homes in July decreased month-over-month to $3.3 million. The number of homes sold decreased to 4 and the number of new listings increased to 18. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 months’ supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
Portola Valley
18 New Listings 3.7 Months of Inventory $3.3M Median Sale Price 95.5% Median Sale vs List 10 4 Sold Listings SFH Single Family Homes The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from July 2021 to July 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently owned and operated. Avg Days on Market
0 New Listings 0 Months of Inventory $0 Median Sale Price 0% Median Sale vs List 0 Avg Days on Market 0 Sold Listings CONDO Condo & Townhomes
y2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 PortolaValley JULY 2021 - JULY 2022 TINGS FOR SALE VS SOLD LISTINGS gle Family Homes t 12 months, year over year. dos & Townhomes t 12 months, year over year
July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 $7,500,000 $5,000,000 $2,500,000 $0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 75 50 25 0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022 125% 100% 75% 50% 25% 0% Median SalesPrice Condos & Townhomes The median sales price record same from last year's July having $0m to $0m this year Single Family Homes The median sales decreased from $3 8m of last year's July, to $3 3m this year AVGDays OntheMarket Condos & Townhomes The average days on market is almost the same from July last year's 0 days to 0 days this year Single Family Homes The average days on market has significantly increased from 12 days last year's July, to 10 days a year later. Overbids Condos & Townhomes The overbid percentage is same from last year's July of 0% to this year's 0% Single Family Homes The overbid percentage has decreased from 102.4% of last year's July, to 95.5% this year.
Menlo Park
What's in the Menlo Park data? In Menlo Park, the median sold price for single-family homes in July increased month-over-month to $3.97 million, just short of an all-time high of $4.1 million in May. The number of homes sold decreased to 21 and the number of new listings also decreased to 71. The number of condo & townhomes sales decreased month-over-month to $1.5 million with 6 units sold and 16 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be above 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 months’ supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
71 New Listings 1.7 Months of Inventory $3.9M Median Sale Price 101.2% Median Sale vs List 21 21 Sold Listings SFH Single Family Homes The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from July 2021 to July 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently owned and operated. Avg Days on Market
16 New Listings 3.7 Months of Inventory $1.5M Median Sale Price 103.9% Median Sale vs List 16 Avg Days on Market 6 Sold Listings CONDO Condo & Townhomes
July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 150 100 50 0 July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 50 40 30 20 10 0 MenloPark JULY 2021 - JULY 2022 LISTINGS FOR SALE VS SOLD LISTINGS Single Family Homes Last 12 months, year over year. Condos & Townhomes Last 12 months, year over year
July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 50 40 30 20 10 0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022 125% 100% 75% 50% 25% 0% Median SalesPrice Condos & Townhomes The median sales price slightly decreased from $1 55m last July 2021 to $1 51m a year later. Single Family Homes The median sales price has increased from $2 5m last year's July to $3 9m this year AVGDays OntheMarket Condos & Townhomes Huge difference is seen on the average days on the Market as the 50 days from last year's becomes 16 days only a year later Single Family Homes The average days on the market has decreased from 29 days of July 2021 to 21 days this July 2022. Overbids Condos & Townhomes The overbid percentage has increased from 93 7% last year's July, to 103 9% this year Single Family Homes The overbid percentage slightly increased from 101% record last year's July, to 101.2% this year.
Atherton
What's in the Atherton data? Atherton’s median sold price for single-family homes in July decreased drastically month-over-month to $752,500. The number of homes sold decreased to 4 and the number of new listings also decreased to 32. The number of condo & townhomes sales decreased month-over-month to $0 with 0 units sold and 0 new listings. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 months’ supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
0 New Listings 0 Months of Inventory $0 Median Sale Price 0% Median Sale vs List 0 Avg Days on Market 0 Sold Listings CONDO Condo & Townhomes
July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 60 40 20 0 July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 2 15 1 05 0 Atherton JULY 2021 - JULY 2022 LISTINGS FOR SALE VS SOLD LISTINGS Single Family Homes Last 12 months, year over year. Condos & Townhomes Last 12 months, year over year
July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 125 100 75 50 25 0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022 125% 100% 75% 50% 25% 0% Median SalesPrice Condos & Townhomes The median sales price stays at $0 for July 2021 and July 2022 Single Family Homes The median sales price decreased from $15 5m in July 2021 to $752k in July 2022 AVGDays OntheMarket Condos & Townhomes The average days on market decreased from 9 days in July 2021 to 0 days this year Single Family Homes The average days on market decreased from 43 day last July 2021 to 26 days by July 2022. Overbids Condos & Townhomes The overbid percentage stays at 0% for July 2021 and July 2022 Single Family Homes The overbid percentage increased from 92.7% last July 2021 to 97.6% a year later.
LosAltos
What's in the Los Altos data? In Los Altos, the median sold price for single-family homes in July decreased month-over-month to $3.8 million. The number of homes sold increased to 34 and the number of new listings decreased to 63. The number of condo & townhomes sales increased month-over-month to $2.7 million, reaching an all-time high, with 2 units sold and 12 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be above 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 months’ supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
63 New Listings 1.2 Months of Inventory $3.8M Median Sale Price 100.1% Median Sale vs List 26 34 Sold Listings SFH Single Family Homes The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from July 2021 to July 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently owned and operated. Avg Days on Market
12 New Listings 1.8 Months of Inventory $2.7M Median Sale Price 100.5% Median Sale vs List 37 Avg Days on Market 2 Sold Listings CONDO Condo & Townhomes
July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 125 100 75 50 25 0 July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 30 20 10 0 LosAltos JULY 2021 - JULY 2022 LISTINGS FOR SALE VS SOLD LISTINGS Single Family Homes Last 12 months, year over year. Condos & Townhomes Last 12 months, year over year
July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 125 100 75 50 25 0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022 125% 100% 75% 50% 25% 0% Median SalesPrice Condos & Townhomes The median sales price increased from $1.7m in July 2021 and $2.7m in July 2022. Single Family Homes The median sales price decreased from $4 1m in July 2021 to $3 8m in July 2022 AVGDays OntheMarket Condos & Townhomes The average days on market decreased from 107 days in July 2021 to 37 days this year Single Family Homes The average days on market increased from 11 day last July 2021 to 26 days by July 2022 Overbids Condos & Townhomes The overbid percentage increased from 98 6% last July 2021 to 100 5% a year later Single Family Homes The overbid percentage decreased from 106.5% last July 2021 to 100.1% a year later.
SanJose
What's in the San Jose data? In San Jose, the median sold price for single-family homes in July slightly decreased month-over-month to $1.4 million. The number of homes sold decreased to 281 and the number of new listings increased to 1,102. The number of condo & townhomes sales decreased slightly to $837,500 month-over-month with 138 units sold and 452 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be above 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 months’ supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285
452 New Listings 1.8 Months of Inventory $837K Median Sale Price 100.8% Median Sale vs List 27 Avg Days on Market 138 Sold Listings CONDO Condo & Townhomes
July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 2000 1,500 1000 500 0 July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 800 600 400 200 0 SanJose JULY 2021 - JULY 2022 LISTINGS FOR SALE VS SOLD LISTINGS Single Family Homes Last 12 months, year over year. Condos & Townhomes Last 12 months, year over year
July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 30 20 10 0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022 125% 100% 75% 50% 25% 0% Median SalesPrice Condos & Townhomes The median sales price increased from $815k in July 2021 to $837k in July 2022. Single Family Homes The median sales price slightly increased from $1 420m in July 2021 to $1 470m in July 2022 AVGDays OntheMarket Condos & Townhomes The average days on market increased from 16 days in July 2021 to 27 days this year Single Family Homes The average days on market increased from 13 day last July 2021 to 25 days by July 2022. Overbids Condos & Townhomes The overbid percentage decreased from 105% last July 2021 to 100 8% a year later Single Family Homes The overbid percentage decreased from 109.4% last July 2021 to 98.5% a year later.
Mountain View
What's in the Mountain View data? In Mountain View, the median sold price for single-family homes in July increased month-over-month to $2.5 million. The number of homes sold decreased to 25 and the number of new listings also decreased to 55. The number of condo & townhomes sales increased month-over-month to $1.2 million with 26 units sold and 63 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be above 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 months’ supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
55 New Listings 1.4 Months of Inventory $2.5M Median Sale Price 100% Median Sale vs List 26 Avg Days on Market 24 Sold Listings SFH Single Family Homes The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from July 2021 to July 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently owned and operated.
63 New Listings 1.7 Months of Inventory $1.2M Median Sale Price 101.6% Median Sale vs List 35 Avg Days on Market 26 Sold Listings CONDO Condo & Townhomes
July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 100 75 50 25 0 July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 125 100 75 50 25 0 MountainView JULY 2021 - JULY 2022 LISTINGS FOR SALE VS SOLD LISTINGS Single Family Homes Last 12 months, year over year. Condos & Townhomes Last 12 months, year over year
July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 40 30 20 10 0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022 125% 100% 75% 50% 25% 0% Median SalesPrice Condos & Townhomes The median sales price has slightly decreased from $1.3m of July 2021 to $1.2m by July 2022. Single Family Homes The median sales price has gone up from $2 4m last July 2021, to $2 5 by July 2022 AVGDays OntheMarket Condos & Townhomes The average days on market significantly increased from 24 days last year's July, to 35 days this year Single Family Homes The average days on market from July 2021 was 15 days up to 26 days this year. Overbids Condos & Townhomes The overbid percentage has slightly decreased from 104% last year to 101% this year's July Single Family Homes The overbid percentage has increased from 112% last year to 100% this year's July.
What's in the San Mateo County data? In San Mateo County, the median sold price for singlefamily homes in July decreased month-over-month to $1.9 million. The number of homes sold decreased to 289 and the number of new listings also decreased to 889. The number of condo & townhomes sales decreased monthover-month to $933,000 with 96 units sold and 323 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be above 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 months’ supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
SanMateo County
889 New Listings 1.9 Months of Inventory $1.9M Median Sale Price 100% Median Sale vs List 25 289 Sold Listings SFH Single Family Homes The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from July 2021 to July 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently owned and operated. Avg Days on Market
CONDO Condo & Townhomes 323 New Listings 2.2 Months of Inventory $933K Median Sale Price 100% Median Sale vs List 35 Avg Days on Market 96 Sold Listings
July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 1500 1000 500 0 July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 500 400 300 200 100 0 LISTINGS FOR SALE VS SOLD LISTINGS SanMateo JULY 2021 - JULY 2022 Single Family Homes Last 12 months, year over year. Condos & Townhomes Last 12 months, year over year
July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 40 30 20 10 0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022 125% 100% 75% 50% 25% 0% Median SalesPrice Condos & Townhomes The median sales price has slightly decreased from $938k last year's July to $933k this year. Single Family Homes The median sales price has decreased from $2 1m last July 2021, to $1 9m a year later AVGDays OntheMarket Condos & Townhomes From 24 days average days on the market record last year, it has slightly increased to 25 days after a year Single Family Homes The average days on market increased from 19 days last year's July, to 25 days this year. Overbids Condos & Townhomes The overbid percentage has slightly gone down from 104 4% last year's July, to 100 6% this year Single Family Homes The overbid percentage has slightly decreased from 105.3% last year's July, to 100.1% this year.
SantaClara County
What's in the Santa Clara County data? In Santa Clara County, the median sold price for singlefamily homes in July decreased month-over-month to $1.7 million. The number of homes sold decreased to 607 and the number of new listings also decreased to 2,127. The number of condo & townhomes sales decreased monthover-month to $946,000 with 299 units sold and 880 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be above 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 months’ supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
$1.7M Median Sale Price 26 607 Sold Listings omes The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from July 2021 to July 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently Avg Days on Market
CONDO Condo & Townhomes 880 New Listings 1.9 Months of Inventory $946K Median Sale Price 100% Median Sale vs List 28 Avg Days on Market 299 Sold Listings
July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 4000 3,000 2000 1,000 0 July2021August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022 2,000 1500 1,000 500 0 SantaClara JULY 2021 - JULY 2022 LISTINGS FOR SALE VS SOLD LISTINGS Single Family Homes Last 12 months, year over year. Condos & Townhomes Last 12 months, year over year
July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022 30 20 10 0 July2021August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022 125% 100% 75% 50% 25% 0% Median SalesPrice Condos & Townhomes The median sales price increased from $902k last year's July, to $946k this year. Single Family Homes The median sales price has gone up from $1 6m last year's July, to $1 7m this year AVGDays OntheMarket Condos & Townhomes The average days on market has gone up again from 20 days last year's July, to 28 days this year Single Family Homes The average days on market has significantly increased from 15 days last July 2021, to 26 days this year's July. Overbids Condos & Townhomes The overbid percentage has slightly decreased from 104 1% last July 2021, to 100 7% this year Single Family Homes The overbid percentage is down from 107.7% last July 2021 to 98.6% a year later.
505 Hamilton Ave Suite #100, Palo Alto, CA 94301 PaloAlto :
